WEG (OTCMKTS:WEGZY) Stock Rating Upgraded by Zacks Research

WEG (OTCMKTS:WEGZY) was upgraded by Zacks Research to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

WEG Price Performance

WEGZY opened at $9.12 on Tuesday. The firm has a market capitalization of $38.29 billion and a price-to-earnings ratio of 7.70. The company’s 50 day simple moving average is $8.71 and its two-hundred day simple moving average is $9.23. WEG has a 1-year low of $6.35 and a 1-year high of $10.80.

About WEG

WEG SA, trading in the U.S. over-the-counter as WEGZY, is a Brazilian multinational corporation specializing in the manufacture and distribution of electric motors, automation technologies and power generation equipment. The company’s portfolio spans low-, medium- and high-voltage electric machines, variable frequency drives and control systems designed for a wide array of industrial applications. WEG also offers transformer solutions and integrated automation products that support sectors including oil and gas, mining, pulp and paper, and infrastructure.

Founded in 1961 in Jaraguá do Sul, Brazil, WEG has grown from a small electric motor shop into one of the world’s largest industrial equipment manufacturers.